Peak Asset Management LLC reduced its position in Visa Inc. (NYSE:V - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,277 shares of the credit-card processor's stock after selling 2,786 shares during the period. Visa makes up about 3.6% of Peak Asset Management LLC's investment portfolio, making the stock its 6th biggest position. Peak Asset Management LLC's holdings in Visa were worth $19,022,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. FWL Investment Management LLC increased its holdings in Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after purchasing an additional 29 shares during the last quarter. Yeomans Consulting Group Inc. boosted its position in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares during the period. Semus Wealth Partners LLC grew its stake in shares of Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after buying an additional 29 shares in the last quarter. Capstone Financial Advisors Inc. raised its holdings in shares of Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after buying an additional 30 shares during the period. Finally, Headinvest LLC raised its holdings in shares of Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after buying an additional 30 shares during the period. Institutional investors own 82.15% of the company's stock.
Insider Activity
In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,913 shares of company stock valued at $32,902,432 in the last quarter. Insiders own 0.13% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. BMO Capital Markets upped their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.04.
Read Our Latest Analysis on V
Visa Stock Performance
Shares of NYSE V traded down $1.93 during trading hours on Thursday, reaching $348.98. The stock had a trading volume of 4,002,854 shares, compared to its average volume of 6,584,005. The firm has a market cap of $643.92 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 2.37 and a beta of 0.92. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The firm has a 50-day moving average of $355.61 and a 200-day moving average of $345.86. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 59.03%. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the previous year, the company posted $2.42 EPS. The company's quarterly revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa's dividend payout ratio is presently 23.05%.
About Visa
(
Free Report)
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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